Personal Finance Chapter 5 Student Review

What kind of debt is student loan debt?

• bad debt, cause all debt is bad!

• good debt

• semi good debt

• if its for your major its okay

Millions of people can't afford to make their student loan ________ every month.

• payment
• grant
• scholarship
• debt

What percent of college graduates have a job in their MAJOR?

• 27%

• 19%

• 46%

• 75%

Why is going into debt for college bad?

• all of the above
• you will spend years paying it back
• you can't start saving right away
• you are young and need to look for a job

Is going into debt for college necessary?

• No
• Yes
• Only if you can't pay cash up front
• Yes, it will help your credit score.

Statistically speaking, which is more important: graduating debt free or your choice of major?

• whatever works for you?

• Graduating debt free

• Your choice of major

• all of the above

A student _________ is not an award.

• loan

• grant

• scholarship

• internship

How many student loan borrowers drop out of college?

• 30%
• 50%
• 80%
• 26%

During the last 20 years, how much has the amount that families pay for college increased?

• 439%
• 149%
• 276%
• 96%

what is the first way to receive any type of financial aid?

• FAFSA
• get a job
• ask your parents
• allowance